> Is the ABR® Designation Worth the Time and Money? Once you have completed your educational requirement, you will put together your commercial real estate portfolio to meet the CCIM experience requirements. Am I just talking to myself here? Simply put: No. A grade of 70% or better is required to pass. Of the more than 150,000 commercial real estate professionals in the United States, an estimated six percent hold the Certified Commercial Investment Member (CCIM) designation. I will explain all this in detail later. I completed the CCIM four course curriculum in 2011. You will need to provide settlement statements, affidavits, and proof of employment (listing agreements are acceptable) to show evidence of your “qualifying activities” involving commercial real estate. Do you have advice about getting your CCIM? Definitely worth it. If you are in commercial real estate NAR has the CCIM designation for those agents. CCIMs also include a variety of different professions involving real estate such as commercial brokers, lenders, and investors. A spokesperson for the CCIM Institute says that more than 15,000 commercial real estate professionals have earned the designation to date and 5,500 professionals are pursuing their CCIM designation. I agree with many of the comments that it is driven by what you want to do. Furthermore, having a CCIM puts you in a sort of club. I have just recently heard of the CCIM designation. Helen has received over $50 million in just referral business alone, which she attributes to her CCIM designation. This is especially true if you are looking to do syndications where you raise private money for the down payment and then split the equity amongst your various investors. REIClub.com and BiggerPockets.com both have threads on the subject. These investors are generally more sophisticated and thereby often more skeptical. Designation Curriculum. This can be a great networking tool and help you get new clients or deal opportunities. Very few of them do much in the residential and small multifamily space. Accurate, … Instead of just sitting around and wondering, I decided to do the research and find out if getting a CCIM designation is beneficial for a residential agent in 2021. And of course, the series of classes required to acquire your CCIM offer a lot of other helpful education as well. In my judgement, the biggest advantage to having your CCIM is the credibility that comes along with it. Membership to the CCIM Institute is required to submit your CCIM portfolio and application. I'm currently in brokerage (4 years) and trying to get into an acquisitions role with an owner/developer. I have already signed up as a designee and have taken multiple classes. If you focus predominately on smaller properties, a CCIM is probably not worth your time. The CCIM experience qualifications are subject to the number of transactions and total dollar volume. Graduates will attend the “Pinning Ceremony” that evening. Here you will learn how to strategically evaluate occupancy, such as comparative lease analysis, lease vs purchase analysis, lease buyout analysis, and sale-leaseback analysis, to optimize decisions regarding use and occupancy. Institute candidate membership also gives you access to many benefits that can help you work smarter. We have affiliate partnerships with these companies and make money when we feature their products on the site. The first part is completing the educational requirements, including four CCIM commercial investment courses, a negotiations course, an ethics course, plus a minimum of two elective credits. I am checking it out now as well. The one exception is if, like us, you buy small properties in bulk, particularly by purchasing portfolios. However, if you fail the first time, you will have up to four chances to retake the exam. If you’re still interested in getting a real estate designation, but want something with a lower financial and time commitment, check out our list: 8 Real Estate Designations That Will Actually Make You Money. Remember CCIM was created for brokers, although those same principles are great for appraisers, it is not framed in the context of USPAP, FIRREA, GSE, or any of the other great regulations we have. However, if you do a substantial volume of commercial or investment deals and you have the money and time, then getting your CCIM can be a valuable asset to your business. Eight hours of negotiations training is required before you can continue to CI 103 and CI 104. These can be earned by completing non-designation courses. I'm a firm believer of education, and this sounds like a well respected one. Unless you are deciding to change to commercial real estate as your main focus, the cost is just too high and the requirements are too steep if your focus is on residential real estate first. Quickly analyze a property address or ZIP Code to compare your rent in your neighborhood. Now that you have a better idea of what transitioning from residential to commercial is like and the benefits of having a CCIM, let’s take a look at the steps to getting your CCIM. The Value of CCIM Designation. Do you new clients care or even know what it is, or is it like any other real estate designation. In this course, you will learn to evaluate the entire life cycle of an investment, from refinancing to capital improvements to disposition. The total cost of the CCIM designation program depends on whether you are a member and how long you take to complete the program. A Certified Commercial Investment Member (CCIM) is a recognized expert in the disciplines of commercial and investment real estate.The designation is awarded by the CCIM Institute, formerly known as Commercial Investment Real Estate Institute (CIREI) of the National Association of Realtors. We do not accept money, services, or products in exchange for positive reviews or product placement. Is the CCIM Designation Worth It? At a few points in my career, I was an active broker, primarily in office and retail leasing. You can attend your local CCIM meetings without the designation, but having one makes you more of a “go-to” figure in your community. Earning a CFP designation can be a great path for anyone looking at a career in investment or wealth management Private Wealth Management Private wealth management is an investment practice that involves financial planning, tax management, asset protection and other financial services for high net worth individuals (HNWI) or accredited investors. As mentioned above, it is probably the most beneficial to commercial brokers and lenders, but it can also be an advantage to investors as well. If you read about a product or service on this website, it's because we genuinely think it's great. The education component of earning your CCIM designation is comprised of a four-course curriculum, an online ethics course, negotiation training, and elective courses from the Ward Center for Real Estate Studies. Thank you for the topic. Is the CCIM designation worth it? Related: 4 Ways Technology is Shaking Up Commercial Real Estate (& Why Multifamily Will Pull Ahead). CCIM is an abbreviation that may refer to: . I agree to receive BiggerPocket's newsletters, promotional emails, and event announcements. Jam packed with 61 proven real state lead generation ideas for this year. I have started the CCIM program, and feel it is absolutely worth it. However, I perceive that the value in the designation lie primarily in the area of purchase and sale of real property and in the education received while working towards the designation. No, you don’t need to calculate the IRR on a single family house (not that it would do much good). This is because some of the course requirements are waived based on your previous knowledge and experience. Most of the classes are available online and allow you to download the sessions so that you can review them as often as you like. When that time is added to either the online or classroom courses, you will have to make a substantial time commitment in order to get your CCIM. PasswordUse at least 8 characters. Helen also says that many are unaware of scholarships that are available to help offset the costs. You must then also complete a short ethics course and negotiation course and finally take the comprehensive exam. A CCIM is an invaluable resource to the commercial real estate owner, investor, and user, and is among an elite corps of 8,600 professionals across North America who hold the CCIM designation. Two elective credits are required prior to taking the Comprehensive Exam. By applying decision-making analyses to optimize investment returns, you will be able to effectively forecast investment performance by quantifying risk and leverage. Having a CCIM can help you establish your credibility as a seasoned, experienced, and trustworthy syndicator with such investors. More importantly, CCIM Candidate members also receive discounts on the CCIM courses. Your membership type will determine how many education requirements you’ll need to fulfill. Use at least 8 characters. The network of professionals is amazing, and it is a clear way to differentiate yourself among your non-CCIM peers. Thinking of the CAIA® Charter: Is CAIA Worth It? It requires no additional designations or advanced degrees. Sean Moudry has been featured in REALTOR Magazine 30 Under 30, recognized as a Top Producing Real Estate Agent for over 15 Years. Receive a free digital download of The Ultimate Beginner's Guide to Real Estate Investing. When you’re dealing with transactions on such a major scale, having some outside certification that you know what you’re talking about is critical for developers working on multimillion dollar projects. There are many commercial clients that will only work with CCIM certified agents. Today Sean teaches Salespeople to sell to their strengths through his consulting company 16 Strategies. Subscribe today and get the Oct/Nov issue delivered to your door! Traditionally, CCIM classes are held classroom-style throughout the country, but due to COVID-19, many of these classes are now available online. “CCIM” refers to a professional designation offered by the CCIM Institute. Even though the educational costs are steep, Helen says it was well worth it for her. That said, the costs of the CCIM designation can vary based on your prior experience and your current designations. However each designation teaches a different side of the same coin. Finally, there is an annual fee of around $600 to maintain your membership. We just need a few details to get you set up and ready to go! Second, you must substantiate your commercial real estate experience by providing evidence of your years of experience working in the commercial real estate industry or personal transactions where you were the principal. Find local real estate meetups and events in your area. Knowing that you have your CCIM may put them at ease and they may be more willing to work with you and possibly send you referrals. This includes apartments, offices, retail, hospitality, and industrial. Discover the potential of these markets here. Lastly, you must pass the Comprehensive Exam to prove you have the knowledge required to hold the CCIM designation. Now that you’ve heard from Helen, let’s take a look at the process of getting a CCIM to see if it’s really right for you. CCIM is better for income recapture, and demographics and how they relate to value. Hi Andrew! Any degree or certification is worth what the individual will get out of it. This is especially true for brokers and lenders. Some consider the CCIM designation to be roughly equivalent to an “MD” of commercial real estate. Even prior to obtaining your CCIM designation, you may choose to become a CCIM Institute Candidate member. I was not really planning on getting a CCIM, but I think you make some good points about it lending credibility, and it’s usefulness if syndicating and networking. Taught by established commercial real estate practitioners who emphasize practical application, the designation curriculum courses are the foundation of the CCIM program. The CCIM Institute – Certified Commercial Investment Member Institute – celebrates five decades as a professional organization this year. Written by financial journalists and data scientists, get 60+ pages of newsworthy content, expert-driven advice, and data-backed research written in a clear way to help you navigate your tough investment decisions in an ever-changing financial climate! Before we dig into whether or not I think getting a CCIM is worth it, here’s a quick interview I did with Helen Chong, a former residential agent who is now the President of the Northern California Chapter of CCIM. There are three main parts to obtaining a CCIM designation. Well, there’s no reason to soften the blow here, so I’ll just say it. A CCIM costs over $10,000 in 2021. I'm also looking into taking it. In this course, you will learn to apply market and competitive analysis, political and legal analysis, site analysis, and financial analysis to make fundamental investment decisions. The Certified Commercial Investment Member (CCIM) designation is a professional credential recognizing experts in commercial real estate investment. A CCIM does require a substantial amount of money and time, but for many investors, that cost is worth it in the education, networking opportunities and credibility you will gain. Finally, having your CCIM offers a variety of membership benefits such as access to their Site to Do Business for Real Estate Investors, which has tools such as ArcGIS Online and other programs as well as tuition discounts for additional classes and the like. Regardless of if you invest in small or large properties it is better to have well established and generally accepted methods of analysis. The one exception is if, like us, you buy small properties in bulk, particularly by purchasing portfolios. There has been a lot of discussion on BiggerPockets about whether it’s worth getting your broker’s license, but the question of whether to get your CCIM (Certified Commercial Investment Member) has been left mostly unanswered. Essential reading for new and experienced Realtors, this list comes from coaches like Tom Ferry, Kevin Ward, and top producing agents from around the country. But Maret and other CCIM advocates say the cost — and the time spent — is worth it. It is a commercial real estate designation that represents that the holder has completed the CCIM educational requirements, passed the CCIM exams, and has completed the required commercial transactions proving that they have not only the knowledge but the experience necessary to handle commercial real estate investment. A Certified Commercial Investment Member (CCIM) is a recognized expert in the disciplines of commercial and investment real estate. A big reason that it takes some agents longer than others to finish their CCIM courses is that they don’t have a lot of prior commercial experience. CCIM’s are recognized as being experts in the commercial and investment real estate industry. After all, the CCIM designation is designed to provide the consumer with confidence that the person wearing the pin has the commercial acumen to handle their real estate investment transaction smoothly. However, I would say that there is diverse group of occupations that have obtained the CCIM designation. Of course, the education that you get from taking the CCIM courses can also be very valuable. The people that I networked with are the real deal, to include Real Estate Investment Trusts. The CCIM Institute is affiliated with the National Association of Realtors (NAR), the organization that evaluates and tests candidates for and awards the CCIM designation. I am finishing my 104 class today! So whether you’re thinking about adding a CCIM to work more commercial deals, or want to make the leap to full-time commercial agent, this guide should answer all your questions and give you enough information to make a decision one way or the other. Let’s talk about scaling in real estate, whether that means moving from no properties to single family or single family to commercial. This course provides the foundation for the later CCIM courses. We use cookies to ensure that we give you the best experience on our website. Andrew, thank you for writing the post. “My pathway to receiving my pin cost well over $20,000,” says Maret, who became a CCIM in 2011. I’ll let Helen take this one: “No, you don’t. CCIM stands for “Certified Commercial Investment Member”. Learn what differentiates the two and where you can find some of the best deals. I have been a member of CCIM but never obtained the designation. To explain how scaling is possible, I’m going to talk a little about how I did it personally. A CCIM is definitely worth it to me. The education is what got me started, but I have decided to get the full designation. Earning the CCIM Designation Education Component. In addition, you must also provide a portfolio of experience, which can be one of the following: This portfolio can take some time to put together. It is a commercial real estate designation that represents that the holder has completed the CCIM educational requirements, passed the CCIM exams, and has completed the required commercial transactions proving that they have not only the knowledge but the experience necessary to handle commercial real estate investment. If you continue to use this site we will assume that you are happy with it. (A brief rundown of the internal rate of return and net present value can be found here if you’re interested.). Any insight would be greatly appreciated! https://16strategies.com/, Your email address will not be published. There are approximately 13,000 members in over 1,000 markets in 30 countries around the world. Dedicating time and effort into the courses provided is extremely valuable to any commercial real estate practice. Are you considering getting your CCIM? Candidate Membership – This membership type is appropriate for most commercial real estate practitioners who are pursuing the CCIM designation. Author of two books on Real Estate Investing, Sean worked as CEO of a real estate market center growing profitability through the recession while recruiting over 115 agents in a single year, landing Sean in the Top 10 in Keller Williams and #1 Commercial Market Center 2011. The independent reviews on CCIM courses and materials and whether or not the designation cost is worth it are mixed. Start analyzing real estate properties, we do the math for you. By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions. I touched on what such a designation offers here, but it certainly isn’t for everyone. In the video below, Helen shares her experience with shifting her business from residential to commercial investment and how the CCIM designation made that possible. The after repair value (ARV) and estimated cash flow should be sufficient. Qualifying activities are those that have taken place within five years of the portfolio’s submission date and in which you had substantial participation. Required fields are marked *. The process of achieving the designation is a combination … Please let us know in the comments, or if you’re an active agent, join our Facebook Mastermind Group here. I am a designee and been involved for quite some time. The CCIM Institute states that “students typically complete the program in 1-3 years, we’ve had members complete it anywhere from six months to 10 years.”. There are several elective courses to choose from, ranging from .25 to 1.0 credit each. Bestowed by the Chartered Alternative Investment Analyst Association, the CAIA® Charter is the educational standard for professionals who specialize in advising and managing alternative investments such as hedge funds, venture capital, private equity and real estate investments. Institute Members, also called candidates, are pursuing the CCIM designation through one of the three types of membership below. After 26 years of being a residential real estate agent, managing broker, and real estate coach, I too have wondered if there is a massive benefit for me to get my CCIM designation. To apply for your CCIM designation, you must prove that you have had a “substantial involvement with real property of a commercial and/or investment nature.”. Get 61 Proven real estate lead generation ideas for this year. The designation is awarded by CCIM Institute. Oh well…. The CCIM negotiation class is, in my opinion, the best there is. Happy to answer any questions regarding CCIM. 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